YGE Global Investor Day 2011

3:00 – 5:00 pm CDT Tuesday, 18 October 2011 Room 223 – 224, Dallas Convention Center Dallas, Texas, U.S. Agenda

Topic Keynote speaker

Well Positioned to Seize Growth Mr. Bryan Li 3:00-3:30 Opportunities In A Challenging Market Executive Director & Chief Financial Officer Mr. Robert Petrina 3:30-3:45 Update on the U.S. Market Managing Director of Yingli Americas Mr. Yiyu Wang 3:45-4:00 Booming China Market Chief Strategy Officer “Continuous Technology Innovations” - Our Mr. Jingfeng Xiong 4:00-4:15 Core Competitiveness Vice President of Technology

4:15-5:00 Q&A Session All speakers

Proprietary and Confidential Safe Harbor Statement

This presentation contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target” and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy’s control, which may cause Yingli Green Energy’s actual results, performance or achievements to differ materially from those in the forward- looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy’s filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Proprietary and Confidential Well positioned to seize growth opportunities in a challenging market

Mr. Bryan Li Executive Director & Chief Financial Officer A leading & well-established PV module manufacturer Yingli is a leading and well-established PV module manufacturer

QUICK FACTS SHIPMENT GROWTH, 2006 – 2011E (MW)

• Entered the PV industry in 1998 • Listed on NYSE on June 8, 2007 (Ticker: YGE) • $1.89 billion net revenues in 2010 • 1,700 MW of vertically integrated manufacturing capacity by 2011-end • Over 11,000 employees and a broad sales network worldwide 2010 C-SI MODULE PRODUCTION (MW)

Source: Photon Consulting

Proprietary and Confidential We are uniquely differentiated by our vertically integrated business model and strong brand

PRODUCTION VALUE CHAIN

Yingli is the largest vertically integrated PV module manufacturer from polysilicon to module in the world.

BENEFITS OF VERTICAL INTEGRATION

• Unparalleled quality control from raw material through modules • Prevents margin stacking while mitigating supply chain risk • Fast commercialization of new products and increased cost competitiveness

Proprietary and Confidential Yingli has the largest announced vertically integrated manufacturing base in the world

NAMEPLATE MANUFACTURING CAPACITY, 2004 – 2011E

Proprietary and Confidential Yingli is a truly global company

• Over 3 GW of products in operation across 5 continents • Over 11,000 employees and a broad sales network worldwide

YGE Headquarters Branch offices and subsidiaries Countries to which we have sold

Proprietary and Confidential Well positioned to seize growth opportunities in a challenging market Next strategic priority: reinforce leadership

2008-2010 On the road to competitiveness • Keeping cost competitiveness • Fast capacity expansion • Effective expense control & speed • Focus on commercializing cash-flow management • Developing vertical cutting edge tech. • Market share gain in China & integrated business model • Delivering cost-efficient U.S. markets products • Delivering value-added services • Upgrading brand value 2011-2012 Reinforce 1998-2007 Get scale leadership

Proprietary and Confidential On the road to grid parity (1/2) -- the low poly price era is coming

SPOT POLY PRICE TREND, 1Q 2009 – OCTOBER 2011 ($/KG)

Source: Photon Consulting, September 19, 2011; market estimation

Proprietary and Confidential On the road to grid parity (2/2) -- focus on non-silicon cost

AUXILIARY MATERIAL COST REDUCTION (US$/W)* HOW WE ACHIEVED THIS

• Competitive advantages through vertically integrated business model

• Critical tech. parameter improvement

• Continuous improvement in manufacturing process efficiency

• Effective procurement and inventory management LABOR & UTILITY CUMULATIVE COST REDUCTION(US/W)* • Enlarging economies of scale

• Cost saving program through out the organization

*In-house multicrystalline PV module

Proprietary and Confidential Cash is the KING

ACTIVE & EFFECTIVE CASH FLOW MANAGEMENT

•A more rational balance between credit policy and sales growth • AR collection • Monitor trends and control weaknesses through aged debtor analysis • Insurance against the risk of non-payment • Extended accounts payable period through negotiation and banking Improved Working arrangement • Procurement Capital Efficiency • Cost-oriented procurement (low-unit value and high-variety items purchased at high frequencies) • More accurate material consumption planning to increase turnover rate • Inventory • Obsolete stock disposal to free cash flow • Implementing JIT inventory management and vendor-managed inventory

Flexible CAPEX • Flexible expansion execution plan adapted to the market Planning • Strengthened control on construction in progress

Productive • Healthier debt structure Financing Strategy • Creative financing such as supplier chain financing and leasing, etc.

Proprietary and Confidential Recent business updates

ENHANCED PRODUCT BANKABILITY SHAREHOLDER VALUE CREATION

 New & improved warranty  Share repurchase program

• PANDA modules: 98% of nameplate power for • Authorized to repurchase up to US$100 million the first year, 92% for 10 years, 82% for 25 years worth of issued and outstanding ADS over the • Multi modules: 91.2% of nameplate power for next 12 months in the open market or in 10 years, 80.7% for 25 years; linear warranty is negotiated transactions available • Extended limited product warranty from five to ten years

FOCUS ON CUTTING EDGE TECHNOLOGY REINFORCE LEADING POSITION IN CHINA MARKET  N-MWT joint research  110 MW contract won in China

• Joint research project among Yingli, ECN and • Supplied 30 MW for a 50 MW project located in Amtech Wulan, Qinghai • Achieved a cell efficiency of 19.7% and a module • Supplied 80 MW for a 200 MW project, current efficiency of 17.6% in the laboratory largest PV station in the world, located in Golmud, • Up to 40% reduction of the metal coverage, Qinghai leading to ~ 1.5% relative cell efficiency gain

Proprietary and Confidential Appendix: financial performance Yingli has maintained industry leading margins while returning consistent EPS

NET REVENUES (US$ MM)* GROSS MARGIN (%)

OPEX AS % OF REVENUES DILUTED NON-GAAP EPS (US$)*

17 * RMB/USD=6.4635 for all periods

17 Proprietary and Confidential Q2 2011 P&L summary

US$ mm Q2 2010 Q1 2011 Q2 2011 QoQ1 YoY1 Revenues 398.1 527.3 680.6 27.4% 62.9% Gross Profit 133.5 144.1 150.1 2.8% 7.2% Gross Margin 33.5% 27.3% 22.1% -5.2% -11.4% Operating Expenses 50.1 57.3 68.7 18.2% 30.6% EBIT Margin 13.2% 16.7% 13.8% -2.9% 0.6% Interest Expenses 10.8 19.9 24.4 20.9% 116.1% Tax Expenses 9.7 11.7 11.4 -4.2% 11.6% Net Income 32.1 56.2 58.1 2.0% 72.4% Net Margin 8.1% 10.7% 8.5% -2.2% 0.4%

1. The QoQ/YoY % changes are calculated based on RMB numbers.

Proprietary and Confidential Q2 2011 balance sheet summary

US$ mm As of December 31, 2010 As of March 31, 2011 As of June 30, 2011 Cash and Restricted Cash 985.0 922.1 1,092.8 Accounts Receivable 318.2 385.7 464.0 Inventories 382.6 461.0 395.5 Advances to Suppliers 87.0 78.9 86.8 Net PP&E 1,505.1 1,583.1 1,872.5 Total Assets 3,664.9 3,892.8 4,384.9

Short-term Borrowings (incl. current 887.6 972.7 1,148.3 portion of long-term borrowings)

Long-term Borrowings 378.3 422.9 340.9 Total Liabilities 2,108.3 2,254.8 2,658.1 Total Shareholders' Equity 1,556.6 1,637.9 1,726.7

Proprietary and Confidential Update on the U.S. Market

Mr. Robert Petrina Managing Director of Yingli Americas Shipments to North America grew substantially from Q2’10 to Q2’11…

Shipments to North America by Supplier (YoY growth in parenthesis) 600

First Solar (203%) 500

Hanwha SolarOne (1450%) 400 Canadian Solar (438%)

Yingli (560%) 300

M W MW Sunpower (200%) 200

Trina (341%) 100

Suntech (189%)

0 2Q10 2Q11

Note: this is not a comprehensive chart of shipments; it only portrays the 7 manufacturers who reported numbers 21

Proprietary and Confidential Demand in the Americas is growing…

7000 US Market Demand, 2008-2015F

6000

5000

Solarbuzz 4000 Morgan Stanley Collins Stewart Goldman Sachs M W MW 3000 UBS Deutshe Bank 2000

1000

0 2008 2009 2010 2011F 2012F 2013F 2014F 2015F

Proprietary and Confidential …but guided shipments to North America still exceeds projected demand

2011E Shipments vs. Demand (MW)

Total: >2000

2,500 Others Total: 2000

Yingli, 242

2,000 Hanwha SolarOne, 143 Canadian, 313

1,500 Trina, 355

SunPower, 380 M W MW 1,000

Suntech, 484 500

First Solar, 450

0 Manufacturers' Shipment Guidance Consensus Demand The aggregate number of guided shipments to North America of just 7 module suppliers equals consensus demand for the whole region. This likely means that suppliers are over-estimating their shipments, or inventory is building up. Source: Collins Stewart (total demand), company reports (manufacturers’ shipments). Note: this is not a comprehensive chart of shipments; it is only the 7 manufacturers who reported numbers 23

Proprietary and Confidential Despite tough market conditions, YGEA is still on track to achieve 15% of US market share in 2011 YGE AMERICAS OVERVIEW US SEGMENT EXPOSURE TRENDS

• Sold over 250 MW cumulatively in the US since founding operations in July 2007 • Sales in over 25 states, Canada, Caribbean, and Mexico • Achieved ~12% US market share in 2010, up from 4% in 2009 • On track to achieve 15% of US market share in 2011 • Diverse team of commercial and technical experts with nationwide support • R&D facility opened in the US in 2011 In Q2’11: 49% sold to customers whose primary sector is utility 39% sold to customers whose primary sector is institutional (including large commercial, government, schools, etc.) 12% sold to customers who are distributors (small commercial & residential)

Proprietary and Confidential The 117MW sold in the Americas in only the first half of 2011 exceeded the 108MW sold in all of 2010

66 60

50 51 48 40

Sales37 (MW) 30

10 15 8 0 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Total MW Total Revenue

Q1’11 to Q2’11 QoQ growth: 30% in terms of MW, 25% in terms of $

25 Q2’10 to Q2’11 YoY growth: 332% in terms of MW, 279% in terms of $

Proprietary and Confidential YGE’s highest efficiency technology, PANDA, growing in US market adoption

PORTFOLIO OF MONOCRYSTALLINE PRODUCTS - Yingli Solar PANDA is a new monocrystalline module technology with n-type solar cells that have average efficiencies higher than 18.8%. Combined with high transmission glass, module efficiencies are up to 16.2%.

- Compared to traditional modules with p-type solar cells, PANDA modules have lower initial degradation and higher performance under both high temperature and low irradiation conditions.

- Ideal for residential or commercial applications where high performance is essential.

PANDA 265 SERIES 26

Proprietary and Confidential 10 YGE’s production processes are recognized for environmental health and safety excellence

RECOGNIZED FOR ENVIRONMENT, HEALTH AND SAFETY EXCELLENCE

• SA 8000 Social Accountability • ISO14001 Environment Management System • ISO18000 Occupational Health and Safety • China Ministry of Environmental Protection: “National Environmentally Friendly Enterprise” • China’s first member of PV Cycle

ENVIRONMENTAL ADVANTAGES OF VERTICAL INTEGRATION WASTE REDUCTION INITIATIVES

• Eliminates several stages of shipping (and costs) • Slurry recycling (30,000 tons annually) • Provides ability to reuse broken or scrap silicon • Fine Silicon plant utilizes up to 70% less energy input than conventional • Results in less than 2% wafer breakage methods • Gives control to the environmental friendliness of inputs • Continuously reduces energy payback • Removes process redundancies

Proprietary and Confidential For the 2nd quarter in a row, Yingli led the CSI market in installations

12 Q3: 49 MW Installed by top 10 (78%) 10

MW MW 4

0 Yingli SunPower Sharp Suntech SolarWorld Trina Kyocera Gloria Solar Canadian REC

20 Residential Commercial 18 Q3: 66 MW Confirmed by top 10 (90%) 16 14 12 10 8 M W MW 6 4 2 0 Trina SunPower Yingli Suntech Sharp Canadian Kyocera Sanyo REC SolarWorld

Proprietary and Confidential …which makes Yingli the top manufacturer in CSI YTD

35 2011 Installations in CSI by manufacturer

20 2011 Q3 2011 Q2 MW MW 15 2011 Q1

0 Yingli SunPower Suntech Sharp SolarWorld Kyocera Trina REC Canadian BP Solar

Proprietary and Confidential Yingli Solar: Building a Global Brand FIFA World Cup and beyond From China to the US, and everywhere in between, Yingli Solar is becoming a highly recognizable brand

FIFA WORLD CUP™, THE NEW YORK JETS, AND US SOCCER

NEW YORK JETS - Yingli Americas partnered with the NY JETS to build a 690 kW solar energy system – the first solar project at a NFL headquarters.

- YGE continues its global brand presence and FIFA partnership through sponsorship of the 2014 FIFA World Cup™. FIFA WORLD CUP 2014

- YGE became the first Official Renewable Energy Partner of U.S. Soccer, including the U.S. Men’s, Women’s and Youth National Teams through 2014.

US SOCCER

Proprietary and Confidential We take an active role in local communities, powering 400 low- income homes in California in 2011

Yingli Americas is the Official Module Provider to GRID Alternatives, a non-profit solar developer.

The 400 systems will generate ---$10 million worth of renewable energy over their lifespans eliminating 40,000 tons of greenhouse gas emissions and -provide hands-on job training opportunities in solar PV installation.

Proprietary and Confidential YGE’s social responsibility extends nationally and globally as an active advocate of solar PV and green initiatives

INVOLVED COMMITTED PHILANTHROPIC

YGE is a board member of YGE partnered with FIFA to In November 2010, YGE SEIA, the US solar industry support the 2010 World Cup. donated models for a 3 kW trade organization, and has YGE is building 20 green PV system at East Central helped advocate for a green “Centers for 2010” in South High School in San legislation with governments Africa as part of the Green Antonio, Texas, as a part of around the world. Goal Program. the company’s philanthropic efforts.

Proprietary and Confidential YGEA continues to facilitate improvements at its new R&D lab in San Francisco • Long Term Outdoor Testing • Reliability characterization of module • Warranty implications • Durability Testing • BOS Verification • Product Research and Development

Proprietary and Confidential Entering the 5th solar business revolution in 15 years

When Event Winners 1980- 2000 Demonstration projects Japan, US and Europe, 0 incentive, RV /rural •Tech dreamers electrification markets •R&D labs

2003-2005 FIT in Japan Rooftop, home or commercial building owners, •Green parties in EU FIT in Germany driven by incentives •Japanese, German early entry long term vision for OEMs: No Europe OEMs

2007-2010 Bubble FIT in Spain Local OEMs not able to manage growth, Chinese •Financial investors Bubble FIT in Italy OEMs emerging, European manufacturing machinery •Land speculators (repeating mistake) •Chinese OEMs

2011 Second step down in pricing China dominates C-Si technology, Japan premium •Industrially mature global OEMs Grid parity quality, US innovating, Europe delocalizing •B2C distributors market grows in MW not in $$

2012 LCoE vs IRR Two market segments: B2C, B2B •Rate payers distributed generation forcing utilities to reconsider •Competent developers power users as clients

Proprietary and Confidential Booming China Market

Mr. Yiyu Wang Chief Strategy Officer After years’ of evolvement, China solar market is booming

China targets to reach 10 GW and 50 GW of cumulative installation by Cumulative 2015 and 2020, respectively. Installation Capacity (company estimations) Very small Less than 1 GW 2.5 GW 10 GW 50 GW 2008 2009 2010 2011 2015E 2020E

Golden Sun Program (rooftop ) Yingli obtained 70% of the 2010 Golden Sun Program (280MWp) Incentive No Schemes Unified National Feed-in Tariff (ground-mounted) Concession Bidding (ground- 2010: RMB 1.15/kWh mounted) 2011: RMB 1/kWh

Proprietary and Confidential As a solar pioneer in China, Yingli started with small and medium size projects…

Aba, Sichuan Size: 60 kW Tibet Size: 10-20 W Yantai, Shandong Size: 100 kW Year: 2002 Year: 2005 Year: 2008 2008 and earlierand 2008

Laiwu, Shandong Size: 53 kW Wuzhong, Ningxia Size: 10 MW Dunhuang, Gansu Size: 10 MW Year: 2009 Year: 2009 Year: 2010 2009 - 2010

Proprietary and Confidential …and recently delivered 110 MW to power the world’s largest solar plants

Size: 200 MW + 50 MW Owner: Huanghe Hydropower Location: Golmud, Qinghai Wulan, Qinghai Year of construction: 2011

Proprietary and Confidential Our firm commitments to China has rewarded us with a high-profile customer portfolio…

Proprietary and Confidential …, increasing shipment and a solid market position

 Shipment volumes in Q3 2011 exceeded our cumulative shipments as of Q2 2011  Expect to capture 20-30% of China market share in 2011

Proprietary and Confidential With 10 branch offices and 2 manufacturing bases in China, we will keep growing with our domestic market

Beijing

Yantai Baoding Xining

Suzhou Shanghai

Tibet Yiwu

Kunming Guangzhou Branch office

Manufacturing base Hainan

Proprietary and Confidential “Continuous technology innovations” Our core competitiveness

Mr. Jingfeng Xiong Vice President of Technology 1 How can we maintain our cost leadership?

2 How can we achieve this ?

Mono technology focuses on new technology R&D 3 Multi technology through active optimizations along entire value chain

3 R&D platform supports our technology innovations

Proprietary and Confidential How can we maintain our cost leadership? (1/3)

Active Innovations in N-Mono and Multi

Note: Above numbers in the commercial production line refer to the average level 45

Proprietary and Confidential How can we maintain our cost leadership? (2/3)

Contributions of Tech. Innovations on Si Usage per Watt

20022002 Unit: G/W

Proprietary and Confidential How can we maintain our cost leadership? (3/3)

Contributions of Technology innovations on non-si cost

20022002

Proprietary and Confidential How can we achieve this ?

Equipment Suppliers

Customers Yingli Institutes Worldwide

Raw Material Suppliers

Technology innovations is not only by ourselves, but also through collaboration with other partners.

Proprietary and Confidential Mono technology focuses on new technology R&D

22%

21% 21% Advanced Passivation Coating 20% 20% 19.3% N-MWT Technology

Improved Doping Technology 19% 18.8%

18.5% Advanced Metallization

18% 2010 2011E 2012E 2013E 2015E

Proprietary and Confidential Multi technology through active optimizations along entire value chain

New Concept Cell Structure [2015] 17.8%

High Quality Casting Ingot [2013] 17.4%

SE Technology

[2012] 17.2%

Diffusion & PECVD Process Optimization [2011] 17.0%

Proprietary and Confidential R&D platform supports our technology innovations

The State Key Laboratory of PV Technology

Strong/ Core R&D Collaboration with institutes worldwide capability

Team building

Proprietary and Confidential The State Key Laboratory of PV Technology Foundation ceremony

 First State Key Lab of PV Technology approved by Ministry of Sci.& Tech. of China in Jan., 2010  New Lab building of SKLPMT was designed area of 61,000 m2  Established 1st Lab Academic Committee in Sep., 2011 with well-known PV experts  Expected to start running in the middle of 2012

Proprietary and Confidential R&D Collaboration with Institutes Worldwide

Institutes ECN UNSW SINTEF XJTU

Crystal Growth Thermal History Crystal Growth Collaboration Area Project PANDA LDSE Technology Analysis & with Low Carbon Simulation

Proprietary and Confidential Team Building (1/2)

Core R&D Team Structural Optimization

2010 2011

53% 66%

Sustainable R&D Team

-- Attractive corporation culture

-- Reasonable systems for training, promotion and incentive

-- Annual Demission Rate for Technical employee is less than 0.01%

Proprietary and Confidential Team Building (2/2)

Core Membership of R&D Team

Proprietary and Confidential Thank you!

Please contact our IR team at [email protected] or visit www.yinglisolar.com for more information.

Qing Miao Matthew Li Director Associate Director Investor Relations Investor Relations

+86 312 892 9787 +86 312 892 9787 [email protected] [email protected]